Transactions with related parties

3 Months Ended

Mar. 31, 2020

Related Party Transactions [Abstract]

Transactions with related parties

Transactions with related parties

(Re)insurance contracts

In the normal course of business, Sirius Group enters into insurance and reinsurance contracts with certain of its insurance and MGU affiliates, or their subsidiaries. During the three months ended March 31, 2020 and 2019, these contracts resulted in gross written premiums of $41.3 million and $24.1 million, respectively. As of March 31, 2020 and December 31, 2019, Sirius Group had total receivables due from affiliates of $31.0 million and $16.1 million, respectively. As of both March 31, 2020 and December 31, 2019, Sirius Group had total payables due to affiliates of $0.9 million.

Other

Meyer "Sandy" Frucher is the Company's Chairman of the Board of Directors and was also Vice Chairman of Nasdaq, Inc. ("Nasdaq") until December 2019. On January 1, 2020, Mr. Frucher concluded his tenure as Vice Chairman of Nasdaq and assumed the role of Strategic Advisor. The Company is traded on the Nasdaq Global Select Market and has business transactions that are related to its listing on the exchange under the normal course of business. (See Note 3.)